I started my career as an R&D scientist before transitioning to the sales and marketing aspects of the industry.

I personally thought of wholesaling first but am now transitioning into fix and flips and buy and holds. 

I would get educated so you know your worst case.Then I would try to work out something friendly with the guy which would include cash for keys to help him with his transition.

Hello there, I may be misinterpreting the question asked by @Richard P. but typically for buy and hold, private money would be used for the acquisition phase (the 'buy' of the buy and hold) and then you would transition into long term money as an exit strategy for the original private money loan.  

You could use transitions like "Wow, it sounds like you have a great house, why are you selling?"

I've slowly transitioned from flipping to NPN's for this very reason. 

@LaShelle Stewart Make sure you use your CIREIA benefits to help you make the most out of your transition!

There is better transportation to consider back to NYC from Philadelphia direct do keep in mind and shaves off 30 minutes using mass transit.

So we are effectively subsidizing both the poor, who cannot pay, and the very wealthy, who do not as a rule own and operate SF or MF properties in C and D-class neighborhoods and therefore do not pay as well.The only practical solution to this and many other dilemmas like it is to become richer and transition out of the C and D-class neighborhoods, or to become poor.It was Thucydides who pointed out thousands of years ago that questions about what is "Right" and what is "Wrong" only really matter between people who are equal in power.

There are some transitional areas within the loop that you might be able to get into for $150k off the market or needing quite a bit of work for an SFR, but with a $150k purchase budget, there are quite a few options.